After a startling price hike in December, gas price was reduced by VND 43,000 (USD2.03) per 12-kilo canister beginning from January 1.
Gas traders attribute the price decrease to the fall in prices in the world market for January, to around USD1,015 per tonne, USD147.5 per tonne down from the month before.
In December, domestic gas prices increased by between VND70,000 and VND80,000 (USD3.31 to USD3.78) per 12-kilo canister, due to the sharp price increases in the world market.
That was considered by many the largest price hike in 2013.
Cooking gas price up sharply Minh Tam By Minh Tam - The Saigon Times Daily HCMC – Cooking gas vendors have hiked the retail price of each 12-kilogram container by VND51,000 since Saturday as earlier forecast, marking the second spike in one month. Cooking gas traders such as Saigon Petro, Shell Gas and Pacific Petro began quoting the new price last Thursday. The retail price now ranges from VND415,000 to VND420,000 per 12-kilogram container, and the suggested price of Shell Gas is even VND455,000. With the latest price rise, the domestic price of this household fuel has been on the…... [read more]
Local prices of liquefied petroleum gas (LPG) are likely to be adjusted next month as complaints gather pace about businesses fixing retail prices much higher than world prices. Cooking gas prices may drop by VND40,000-50,000 next month, Lai Duc Nam, sales and marketing manager of Petronas Vietnam, said Lai Duc Nam, sales and marketing manager of Petronas Vietnam, said LPG prices on the world market have dropped by US$285 per ton within ten days and the fuel is now traded at about $515 per ton. The drop means the retail price of a 12-kilogram cylinder in Vietnam can be cut…... [read more]
Cooking gas prices edge higher on Tuesday By Minh Tam - The Saigon Times Daily HCMC – Local cooking gas retailers on Tuesday started revising up prices as world gas markets are rallying, coupled with higher input costs resulting from inflation. In statements issued on Monday by key cooking gas suppliers like Saigon Petro and Petrolimex Gas Saigon, the retail price is up by VND9,000-10,000 to VND329,000-334,000 per 12-kg container. They attribute the price rise to higher contract prices on world markets, saying Saudi Aramco, the state oil company of Saudi Arabia, early this month announced a price increase of…... [read more]
Despite the U-turn made by cooking gas prices on the global market, Vietnamese suppliers have again bemoaned of losses. But are they really incurring losses, given their myriad of methods to manipulate domestic prices? Domestic cooking gas prices have soared in accordance with their global counterparts in early February and March. But figures obtained by Tuoi Tre show that most of the products marketed during that period of exorbitant prices have been previously imported at far lower prices. Specifically, domestic cooking gas prices rose by VND42,000 (US$2) a 12-kg cylinder as of the beginning of February, when global prices surged…... [read more]
Cooking gas prices rise again By Minh Tam - The Saigon Times Daily HCMC – Retail cooking gas prices in Vietnam from Monday increased by VND8,000 to VND365,000-370,000 per 12-kilo cylinder after falling for two months in a row. Local consumers complain that local gas prices do not follow the world market, rising sharply after modest decreases earlier. In May, local enterprises increased gas prices by VND30,000 to a record high of VND380,000 per 12-kilo cylinder after global prices surged US$87.5 to US$970 per ton. After global gas prices plunged US$80 and US$55 per ton in June and July respectively,…... [read more]
HA NOI — The price of liquefied petroleum gas (LPG) was slashed by VND2,900 (14 US cents) per kg yesterday, meaning cooking gas prices would be cut by about VND35,000 (US$1.7) per tank weighing 12kg. Key gas dealers, including PetroVietnam Gas, Saigon Petro and Vinagas, affirmed the price adjustment. This was the sharpest cut in gas prices since the beginning of the year, helping the retailing price of cooking gas fall to around VND370,000 ($17.8) per tank. The key enterprises said gas prices showing signs of easing on the world market were the main reason for the domestic cut. Many…... [read more]
Domestic cooking gas prices surge HCMC - Saigon Petro Gas on Monday announced a cooking gas price hike of VND2,083 per kilo, or VND25,000 per 12-kilo container, compared to mid-January. Many traders said they may raise prices by VND30,000 per container in the future as world gas prices had leapt from US$380 to US$505 per ton recently. In mid-January, gas rose to US$435 per ton on the world market, resulting in the domestic prices soaring by VND5,000 per container. Moreover, fuel prices are forecast to rise as world supply is falling.... [read more]
Cooking gas prices inch up Tam An By Tam An - The Saigon Times Daily HCMC – The retail price of cooking gas in HCMC on February 1 inched up VND5,000 (23 U.S. cents) per 12-kilogram container due to higher contract prices on world markets, marking the first price hike after three consecutive months of falling. The price now hovers in the range of VND305,000-315,000 (US$14.3-14.7) per 12-kilogram container, and around VND1.16 million per 45-kilogram container and VND1.29 million per 50-kilogram container. Gas traders announced price hikes last Friday. The price in February has edged up by VND417 per kilogram…... [read more]
Viet Nam News HÀ NỘI - Cooking gas price for HCM City and other southern provinces will drop by VNĐ2,500 (US$0.1) per 12kg canister in December compared with the previous month. Starting December 1, retail price for cooking gas from household names such as Vietnam Oil and Gas Group, Vietnam Gas Co Ltd, Vietnam National Petroleum Group and HCM City Oil & Gas Company (Saigon Petro Co Ltd) will fluctuate from VNĐ291,000 ($12.8) to VNĐ300,500 ($13.2) per 12kg canister. Trần Văn Phúc, Saigon Petro's business manager, explained that the drop in December gas price from November was a result of…... [read more]
The price of domestic cooking gas will hit a fresh record this year on Thursday with a rise of VND52,000 per 12-kilogram gas cylinder, said many Ho Chi Minh City-based cooking gas wholesalers. The price hike is due to the rise of import gas price for March which has surged $180 per ton month on month to $1,205 per tons, they said. Accordingly, the retail price of cooking gas sold by Saigon petro, Gia Dinh Gas, Vinagas, and VT Gas, will range from VND477,000 to VND480,000 per 12-kilogram gas cylinder. Local cooking gas prices have increased 4 times with a…... [read more]